If you were locked out of all your CEX accounts like Coinbase, Binance, Crypto.com, how would it affect your trading abilities? Do you have a way to sell or buy without these companies?

The birth of crypto was to mitigate the need to rely on a central authority. Still, up to this day mostly everyone relies on centralized exchanges to purchase and sell crypto. If companies like Coinbase or Binance deem your activity as suspicious, they can close your account and you won't be able to use their services. I think everybody should try to buy crypto P2P at least once, the amount of benefits are well worth the one time experience.

Why is P2P good?

• Privacy protection
• More payment options (Which you get to choose)
• No third-party trading fees
• Freedom to set your own price

Downsides?

• Low liquidity (Which can be solved if more people do P2P trades)
• Premiums (Paying over market price for obtaining crypto this way, usually between 2-10%)
• The biggest one, risk of being scammed (Which can be avoided less if you only deal with reputable people)
• Slower trading speeds

Best P2P trading platforms

1. Bisq - https://bisq.network/

https://preview.redd.it/xk9bx4182mt91.png?640&format=png&auto=webp&s=f2f0d8129ed546d77de9867608f68685ab21d24b

One of the most secure platforms out there which uses Tor to secure the network. Primarily used for buying and selling Bitcoin.

What it looks like to perform a trade:

https://www.youtube.com/watch?v=4LyEKA5Iq9I

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2. RoboSats - https://learn.robosats.com/docs/quick-start/

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https://preview.redd.it/jti1in6q2mt91.png?1200&format=png&auto=webp&s=f9a0e425eb64e718ac4ecea8072d364ed4736e75

Slightly new, but a pretty secure website that is recommended to run through Tor Browser for privacy. Uses the Bitcoin Lightning network to process trades. Very user friendly and simple to use.

What it looks like to perform a trade:

https://www.youtube.com/watch?v=QISRoZxQaAs

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3. DEX's like Uniswap or Sushiswap

Unlike Bitcoin which people do more of peer-to-peer trading, other coins like ETH use dApps. Slightly different because you don't interact with a person, you're initiating a smart contract to make the trade in your wallet. These are sometimes expensive with whatever gas fees are on the network you're using, but there are workarounds with bridging to other networks or using Loopring.